Total income was Rs 1,954.83 crore in the quarter under review, down from Rs 2,627.04 crore in the corresponding period a year ago, due to decrease in turnover, primarily on account of lower generation coupled with lower tariff.

Shares of JSW Energy and Jaiprakash Power Ventures advanced as much as 1.7 and 3.3 per cent each respectively after the Competition Commission of India (CCI) approved Sajjan Jindal-promoted JSW Energy's purchase of the 500-MW Bina thermal power plant from Jaiprakash Power Ventures.

Shares of Jaiprakash Power Ventures surged as much as 13 per cent to hit intraday high of Rs 6.90 after the company said it plans to sell its thermal power plant in Bina, Madhya Pradesh, to JSW Energy for Rs 2,700 crore.

JSW Steel Ltd has bid for the British operations of Tata Steel Ltd, two sources with direct knowledge of the matter confirmed on Tuesday, prompting concerns about its debt levels and putting pressure on its shares.

Indian billionaire Sajjan Jindal's JSW Energy Ltd has all but agreed to buy a 1,000 megawatt power plant from his brother's heavily indebted Jindal Steel and Power Ltd in a deal valued at over $900 million, two sources told Reuters.

Total income was Rs 1,954.83 crore in the quarter under review, down from Rs 2,627.04 crore in the corresponding period a year ago, due to decrease in turnover, primarily on account of lower generation coupled with lower tariff.

Shares of JSW Energy and Jaiprakash Power Ventures advanced as much as 1.7 and 3.3 per cent each respectively after the Competition Commission of India (CCI) approved Sajjan Jindal-promoted JSW Energy's purchase of the 500-MW Bina thermal power plant from Jaiprakash Power Ventures.

Shares of Jaiprakash Power Ventures surged as much as 13 per cent to hit intraday high of Rs 6.90 after the company said it plans to sell its thermal power plant in Bina, Madhya Pradesh, to JSW Energy for Rs 2,700 crore.

JSW Steel Ltd has bid for the British operations of Tata Steel Ltd, two sources with direct knowledge of the matter confirmed on Tuesday, prompting concerns about its debt levels and putting pressure on its shares.

Indian billionaire Sajjan Jindal's JSW Energy Ltd has all but agreed to buy a 1,000 megawatt power plant from his brother's heavily indebted Jindal Steel and Power Ltd in a deal valued at over $900 million, two sources told Reuters.

Jay Thakkar, senior technical analyst at Sharekhan, expects the Nifty to rally till 8,100 as a medium-term bottom is in place at 7,540. The Nifty can head towards 8,225 once 8,100 is taken out, he added.

JSW Energy shares advanced as much as 7.5 per cent to hit intraday high of Rs 72.80 after news reports surfaced which suggested that JSW Energy is all set to acquire Bina Thermal Power from Jaiprakash Power Ventures.

The company will issue securities to raise Rs 7,500 crore and debentures to generate Rs 5,000 crore in this fiscal. "Special resolution for enabling the Board to issuesecurities for an aggregate amount of not exceeding Rs 7,500 crore or equivalent in any foreign currency has been passed by requisite majority," the company said in BSE filing.